The existence of Fortress Investment Group was not a one-person effort but the joint contribution between Randal Nardone, Rob Kauffman, and Wes Edens as its co-founders in 1998 as a private equity firm. Before erecting it, they got the opportunity to serve in several firms such as; UBS, Lehman Brothers, BlackRock financial management firm and Goldman Sachs. While there, they acquired a lot of experience concerning the financial sector and they came along with those skills and knowledge in Fortress Investment Group. Since its existence, it has experienced exponential growth that has seen it being recognized globally and it manages assets worth more than $43 billion which comes from investors who exceed 1750 by count.
The first headquarters of Fortress Group was situated in New York City, and under its roof, it has accommodated over 900 employees. Before it started to offer credit securities and Hedge finances, it had been providing the real estate investment in markets found in both New York City and Toronto. In 1999, the firm launched its Fortress Investment Fund 1, and since then up to 2006, its private equity asset was approximated to have increased by forty percent. 2002 was the year when Michael Novogratz became a member of Fortress Investment Group, and his presence was a very significant boost to its leadership. He became its Fund Manager, the same role he played while in Goldman Sachs. However, in 2015 he left the Group, and the reason behind it was that he wanted to pursue his other personal interests.
Fortress Investment Group’s growth was evidenced when several headquarters were set up in various regions such as Shanghai, San Francisco, Singapore and two in Asia. Also, its excellent reputation and right image in the financial industry has seen it being awarded on several occasions such as being named the Hedge Fund Manager of the year 2014. Fortress Investment Group’s co-founder such as Randal Nardone and Wes Edens is its current principals while Rob Kauffman has already retired.
Besides the opening of the additional headquarters in various cities by Fortress Group, the organization has also opened some satellite offices in different places and countries. This is to ensure that the company reaches all the markets that it serves adequately. As a result, the number of clients that invest in the organization has also increased, hence necessitating an increase in the number of employees that the company possesses.